NAB shows sterling has more to give
In a week dominated by euro supply in senior unsecured, sterling investors showed they also have plenty to offer issuers with their response to National Australia Bank’s three year floating rate note.
Nomura, Royal Bank of Scotland and NAB built a book of around £500m from 40 accounts for the £425m deal, which was priced in line with guidance at 48bp over three month Libor on Tuesday.
While sterling investors have provided a captive audience this year due to
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